NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.

Ronald Eugene Holtrey (Principal)
AWC/2008013818402

Holtrey failed to adequately supervise a registered representative who misappropriated $90,000 from customers. Holtrey failed to detect and follow up on red flags regarding the registered representative’s business with his customers, including a failure to take appropriate action as required by his member firm’s supervisory procedures to review weekly sales blotters. After receiving telephone calls from a customer and her financial advisor at another firm raising concerns about the registered representative’s activities, Holtrey failed to conduct any follow-up, bring the complaint to his member firm’s attention or initiate any process related to the complaint. 

Ronald Eugene Holtrey (Principal): Fined $10,000; Suspended 6 months in Supervisory Capacity only; Required to requalify as a principal by examination before again acting in a principal or supervisory capacity